The introduction of pharmacy in the online business led to a revolution. A pharmacy that runs on an online platform is called e-pharmacy. The orders for medicines are booked through the internet. The panel of doctors checks the prescription, and only after proper validation the order is processed. The order is sent to the customer through shipping companies. Many people experience the benefit of discounts by transacting through the internet. The medicine delivered is also on time.
This sort of benefit encouraged the ePharmacy market to flourish. As the business became a great success, many new entrants came into the pharmacy, leading to cut-throat competition. ePharmacy provides the medicines at a reasonable and discounted price. Since a panel of doctors checks the prescription, the right medicine is delivered to the customer. Due to COVID’19, the government strictly declared lockdown, and the movement of people was restricted. When the other markets were affected by the pandemic situation COVID’19, ePharmacy helped many customers by delivering the required medicines by following required safety measures. So, even when the situation of COVID’19 has come under control, people still use e-pharmacy services due to the convenience enjoyed by booking medicines online. This attitude boosted the ePharmacy market.
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The ePharmacy market can be segmented on the operating platform, product/drug type, business model, and region. According to the operating platform category, the market is divided into apps and website segments. According to the product/drug type category, the market is bifurcated into prescription drugs (dressings like – foam, film, hydrocolloid, hydrogel, collagen, alginate, and CHG adhesive, surgical tapes, barrier tapes, tissue sealants, and negative pressure wound therapy drapes, etc. ) and over the counter drug segments. According to the business model category, the market is divided into segments like a marketplace, pharmacy, or online booking. According to the regional category, the market is divided into North America, Europe, Asia-Pacific, and the rest of the world.
According to the drug type category, the segment related to prescription drugs contributed the maximum to the market growth. This is because of the convenience it provides to the customers. The app segment in the operating platform category contributed the maximum to the market. The marketplace segment in the business model category contributed the maximum to the market growth. According to the regional category, North America dominates the market.
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The global analysis of the epharmacy market states that the market is growing at a 12.5?GR by the end of 2027. The rise in e-commerce, increase in the number of patients suffering from chronic diseases, the introduction of new technologies, rise in online orders, etc., are some of the factors that boost the market towards growth. The government policies favouring the pharmacy business are one reason for the market’s flourishing. As many new entrants came into the industry, investments increased. Many new online pharmacies came into existence. Many people in the world are still unaware of the usage of ePharmacy facilities. So focusing on creating a complete awareness of the ePharmacy facility will drive the ePharmacy market towards growth.
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